In February, Coinstar subsidiary Redbox announced
a joint venture with Verizon to launch a streaming video service. Later
this afternoon, we’re told, the companies will provide a bit more
insight into the partnership, though details of the service are still
extremely limited.

Here’s what will be revealed: The service will be launched in internal
alpha testing today, followed by a beta
program in the coming months before the streaming service goes
live later this year. It will be
branded Redbox Instant by Verizon; it will combine access to physical
and digital content; and the JV will be led by newly appointed CEO Shawn
Strickland, who previously worked as a vice president in Verizon’s FiOS
business. Such a set up indicates the partnership will rely mostly on
Redbox’s branding, which mimics competitors Netflix Instant and Amazon
Instant, while taking advantage of Verizon’s network infrastructure.
“DVDs at the kiosk instant streaming hits, all in one fist-pumping
package,” teases a landing page, seen above, which is set to go live
later today.

For consumers eager to have an alternative to Netflix, Amazon, Hulu, and
HBO Go, the news is bittersweet in its hurry-up-and-wait nature. Redbox
Instant will be a subscription-based service, as executives at both Coinstar and Verizon have indicated,
but the company will still not provide any insight into subscription
rates, studio content, or how the physical and digital parts of the
service will be combined.